CANADA STOCKS-TSX rises on mining stocks boost, upbeat economic data

  • 6/24/2021
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(Update prices, sectors) June 24 (Reuters) - Canada’s main stock index rose on Thursday as mining stocks tracked bullion prices higher, while government data showed that domestic wholesale trade most likely rose in May. * The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.3% as gold futures rose 0.1% to $1,783.8 an ounce. * Canadian wholesale trade most likely rose by 1.1% in May over April led by higher sales in the machinery, equipment and supplies subsector, Statistics Canada said in a flash estimate. * At 9:43 a.m. ET (13:43 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 89.84 points, or 0.45%, at 20,254.23. * Adding to the upbeat mood, Export Development Canada’s Trade Confidence Index jumped to its highest level in more than 20 years, underpinned by mounting optimism that a sustained global economic recovery is underway. * The largest percentage gainers on the TSX were alt-energy producer Westport Fuel Systems Inc, which jumped 3.8%, and Magna International Inc, which rose 3.3% after Goldman Sachs upgraded the auto parts maker’s stock. * The energy sector slipped 0.1% as U.S. crude prices dipped 0.6% a barrel, while Brent crude lost 0.5%. * The financials sector gained 0.4%. The industrials sector rose 0.6%. * On the TSX, 171 issues were higher, while 54 issues declined for a 3.17-to-1 ratio favouring gainers, with 11.76 million shares traded. * Miner Wesdome Gold Mines Ltd fell 1.9%, the most on the TSX, and the second biggest decliner was lithium miner Lithium Americas Corp, down 1.6%. * The most heavily traded shares by volume were Bombardier Inc, Moneta Porcupine Mines Inc, and Manulife Financial Corp. * The TSX posted 14 new 52-week highs and no new lows. * Across all Canadian issues there were 58 new 52-week highs and 10 new lows, with total volume of 26.00 million shares. (Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila) Our Standards: The Thomson Reuters Trust Principles.

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